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Car to get while waiting on M3?

Car to get while waiting on M3?

The lease on my current car (2014 Mazda 3 Hatchback) will be up in June 2017. I stood in line to put my M3 deposit down on 3/31. I'm on the east coast. I figure I will have anywhere between 6-12+ months from the time my current lease ends until I take delivery of a Model 3. I put very few miles on my cars (approx. 5-6k/year).

I would like to buy something fun and pre-owned that I could, at least in theory, sell for about the same price as I buy it for after 6-12 months of ownership. What would you buy for say $20-25k cash? Could swing the budget in either direction but like the idea of being frugal during this "interim" period while I wait for my M3.

My initial thoughts...
volt?
volvo v60 wagon?
Audi A3?

Suggestions?

PhillyGal | 2016年6月6日

Do some research from a strictly residual value standpoint so that you can effectively drive that gap car for as little cost to you (depreciation) as possible.

My first brand new car was a Scion tC. I did't plan to buy a new car but a used tC with 50,000 miles was $15,500 and brand new was $18,400. 5 years and nearly 60,000 miles later, insurance gave me $13,000 after a total loss. In other words, fanatic residual value and one heck of a little car. (It's a liftback like the Model S and can haul a lot of stuff.)

Stay away from: Leaf, Volt, any other EV because they have poor depreciation due to the tax credit and potential range upgrades.
Stay away from: any new luxury cars, Kia, Hyundai.

Toyota and Subaru seem to do well.

PhillyGal | 2016年6月6日

$15,000 after a total loss actually. Either way, I was pleased.

PhillyGal | 2016年6月6日

Actually, a WRX may fit the bill. It's fast, fun, safe and comes in hatch if you want it. Here's a 2015 for sale near me. Certified pre-owned.

https://www.cars
dot
com/vehicledetail/detail/669881565/overview/

millsdmb | 2016年6月6日

short term lease on a volt. Has 278 lb-ft of torque and the 0-30 acceleration is as fast as the model 3. Good practice to charge, with the safety blanket of the range extender the Volt has. I love mine.

Mike83 | 2016年6月6日

A used Model S might be worth it. I only see 3 60's on the Tesla website in my area but maybe 10 in the US. I think this is an excellent deal. And you'll have a Tesla with SC. Perhaps some states might even give a rebate for a used one.

MarlonBrown | 2016年6月6日

My BMW 3 ran out of warranty. I learned the hard way I never own a German car again in my life without bumper to bumper warranty. I drive 25K miles/year, in less than 2 years warranty is gone and vehicle is depreciated by 50%! Major cost.
I bought a used Leaf for $11K with 100,000 miles bumper to bumper warranty until Model 3 is delivered. I will apply all Leaf savings towards options in the Model 3 and keep it for a long time (8 years till warranty expires). I love it. Saving US$500/month in gas. I can't go back. Also getting rid of my lame lawn mower gas powered. Buying a battery powered one. Combustion engine is over.

Red Sage ca us | 2016年6月6日

I don't have one, but there are times when it is tempting to grab a FIAT 500e...

Drdpharris | 2016年6月6日

@Red Sage ca us Fiat 500e would be nice *if one lives in California*. Not I for one :-(

warren_tran | 2016年6月7日

The Volvo s/v60 would definitely fit fun factor. Economical is leaf if you can handle the look.

Lith I M | 2016年6月9日

If you want a fun to drive, turns on a dime and well priced (used) car at 6-8 thousand take a look at the 2012 Mitsubishi i-MIEV.
They're a great vehicle for running around town.
My 2012 has over 25000 miles. It was originally leased for two years than purchased.
Oh, I also have a reservation for a model 3.

flight505 | 2016年6月9日

Buy a new Tesla Model 60D and forget the Model 3.

Second option: turn over a used Leaf.

CraigW | 2016年6月10日

ohh_henry,
You have one year left on your lease. How about you save your cash for the next year and decide next April/May. You may find that you have saved enough to afford an S60 at that time and I guarantee you will not be disappointed. I drove small cars until I got my Tesla in JAN 2013, and I got used to the larger size. Yes, I am in line for a Model 3 for my wife - and size is a factor for her - but you will find you are looking for ways to take longer road trips in your Model S.

Another option would be to buy a used Model S. The first owner will have taken the majority of the depreciation and you get to drive a Tesla. A private party will give you a better deal than Tesla and you aren't interested in the 50,000 mile warranty if you are only keeping it until the Model 3 arrives.

P.S. Don't relinquish your place in the Model 3 line, regardless what you do.

jbunn | 2016年6月10日

Save your cash. Count on a delay for your 3. Consider purchasing your lease and selling it when your 3 arrives. Key is to save your money to make a large down-payment. Fun comes later.